The Art of Quitting: Balancing Perseverance and Self-Preservation

He was unconscious, on oxygen, and the nurses packed ice around him. At the same time, a doctor tried to get an intravenous line in to boost his sodium levels. It was another shift in A&E for the doctors being filmed for a reality TV series. Their patient was a runner suffering heat stroke, having collapsed during a half marathon on a 40 °C day. The doctor said his body must have sent him numerous signals to stop, but he kept going. Ignoring them nearly cost him his life.

This episode and other events got me thinking about when it is right to quit and when to persevere. The image above is a photograph I took of a blindfolded street performance stuntman jumping through fire, taking a calculated risk balanced against earning an income.?

Quitting is a complex issue that can be difficult to navigate in an uncertain world. While there are certainly times when quitting can be the right choice, there are also times when perseverance and commitment can lead to great rewards. I'll explore both sides of the argument, highlighting the benefits and drawbacks of quitting in different contexts and examining the cognitive biases affecting our ability to make the right decision.

On the one hand, quitting can be a valuable tool for self-preservation and growth. If we find ourselves in a toxic, harmful situation or no longer serving our best interests, quitting can be a powerful act of self-care. Whether it's a toxic job, an unhealthy relationship, or a habit damaging our health or well-being, quitting can be a way to regain control over our lives and move towards a more positive future.

At the same time, quitting can also be a way of avoiding challenges and obstacles necessary for growth and development. If we give up too quickly when things get tough, we may miss out on opportunities for personal and professional growth. Whether learning a new skill, overcoming a fear, or pushing through a challenging project, staying committed and persevering can help us build resilience and develop the skills we need to succeed.

To make an informed decision about whether to quit or persevere, it's essential to consider each approach's potential benefits and drawbacks. Here are some arguments for and against quitting in different contexts.

Sunk Cost Fallacy

On the one hand, the sunk cost fallacy can make it difficult to quit when we're invested in a particular path or goal. Suppose we've invested a lot of time, money, or energy into a specific pursuit. In that case, we may feel we need to continue to justify our investment. However, this can lead to a sense of obligation and prevent us from objectively seeing the situation.?

In these cases, it can be helpful to step back and reassess whether the pursuit is still serving our best interests rather than simply continuing out of a sense of obligation.

On the other hand, quitting can also be a way of avoiding the discomfort and uncertainty that comes with starting something new. Suppose we're always chasing the next shiny object. We may miss the benefits of staying committed to a particular pursuit. It can be helpful to remind ourselves of our long-term goals and to consider whether quitting will help us achieve those goals or simply allow us to avoid discomfort in the short term.

Endowment Effect

The endowment effect can make it difficult to let go of things we already have, even if they no longer serve our best interests. Whether it's a job, a relationship, or a material possession, we may feel a sense of attachment that makes it hard to imagine our lives without it. In these cases, it can be helpful to reflect on why we're attached to the thing in question and to consider whether there are other ways to meet those needs that might be more fulfilling in the long term.

At the same time, it's important to recognise the value of persistence and commitment, especially when it comes to pursuing long-term goals or developing new skills. If we're always chasing the next new thing, we may miss out on the benefits of staying committed and building expertise in a particular area.

Status Quo Bias

The status quo bias can make it difficult to consider alternatives to our current situation, even if we're unhappy or unfulfilled. We may be reluctant to make changes that disrupt our current routine. Asking ourselves whether we're truly happy with our current situation or simply comfortable with the familiar can be helpful. If we're truly unhappy or unfulfilled, it may be worth considering whether a change is necessary to achieve greater happiness and fulfilment.

On the other hand, there are also benefits to staying committed and persevering through challenges, even if they're difficult or uncomfortable. By staying the course and pushing through difficult times, we can build resilience and develop the skills we need to succeed in the long term. We may also find that the rewards of persevering outweigh the short-term discomfort or uncertainty.

Omission Bias

The omission bias can make taking action difficult, especially if it involves risk or uncertainty. We may be reluctant to take action for fear of making the wrong choice or experiencing negative consequences. In these cases, it can be helpful to consider the potential benefits of taking action, as well as the potential risks. If the potential benefits outweigh the risks, take the leap and make a change.

At the same time, it's important to recognise that not all risks are worth taking. It's essential to weigh any action's potential benefits and drawbacks and to make a decision that aligns with our values and goals.

Loss Aversion

The loss aversion bias can make it difficult to let go of things we perceive as valuable, even if they no longer serve our best interests. Even if we're unhappy, we may fear losing something that we perceive as valuable. It can be helpful to reassess our priorities and consider whether the perceived value of the thing in question truly aligns with our values and goals.

It's essential to recognise that quitting can also involve the risk of losing something valuable, whether it's financial security, social support, or a sense of identity. Before making any major changes, it's crucial to weigh the potential benefits and drawbacks of the decision and to consider how it aligns with our long-term goals and values.

The above may sound obvious when you read it, but the whole point of cognitive biases is that they catch you unaware. You need to ask yourself the right questions.?

As we've seen, the decision to quit or persevere is complex, requiring careful consideration of each approach's potential benefits and drawbacks. While quitting can be a powerful tool for self-preservation and growth, it can also be a way of avoiding challenges and missing out on opportunities for growth and development. By considering the potential biases that influence our decision-making, we can make more informed decisions that align with our long-term goals and values. Ultimately, deciding to quit or persevere will depend on our unique circumstances, values, and goals, and there is no one-size-fits-all answer. By staying mindful and reflective, we can make decisions that serve our best interests and lead a more fulfilling and meaningful life.

Interesting studies on cognitive biases

Sunk Cost Fallacy:

• Researchers found that people are more likely to persist in a task when they have invested a lot of time and effort into it, even if continuing to work on the task is not the best use of their time (Arkes & Blumer, 1985).
• In a study on job quitting, researchers found that people who had invested more time in a job were less likely to quit, even if they were unhappy in their current position and had better job opportunities available (Carmeli, Gilat, & Waldman, 2007).

Endowment Effect:

• A study on quitting smoking found that smokers who were given a nicotine patch for free were more likely to continue smoking compared to those who were asked to pay for the patch. This suggests that the endowment effect can make it difficult to give up something that is seen as "ours" (Chapman, 2009).

Status Quo Bias:

• In a study on retirement savings, researchers found that employees were more likely to stick with the default retirement plan offered by their employer, even if there were better options available (Madrian & Shea, 2001).
• Another study found that people were more likely to choose the same restaurant for lunch every day, even if there were better options available, simply because it was familiar and comfortable (Samson & Voyer, 2014).

Omission Bias:

• A study on organ donation found that people were more likely to donate their organs if the default option was to be an organ donor (Johnson & Goldstein, 2003). This suggests that people may be more likely to take action when it is the default option, rather than actively making a decision to take action.
• Another study found that people were more likely to choose a medication that had fewer side effects, even if it was less effective, simply because it involved taking fewer risks (Slovic, Fischhoff, & Lichtenstein, 1979).

Loss Aversion:

• A study on investment decisions found that people were more likely to hold onto a stock that had lost value, rather than selling it and cutting their losses. This suggests that people may be more motivated by the fear of loss than the potential for gain (Tversky & Kahneman, 1991).
• Another study found that people were more likely to continue participating in a game when they were given a starting amount of money, even if they lost money overall, simply because they didn't want to lose what they had been given (Kahneman, Knetsch, & Thaler, 1990).

These studies suggest that the cognitive biases related to quitting are real and can significantly impact our decision-making. However, each individual's circumstances and values will also influence whether they choose to quit or persevere. By being aware of these biases, we can make more informed decisions that are more likely to align with our long-term goals and values.

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